The festive season arrives with a welcomed gift for motorists as fuel prices trend downward, setting up a weekend of busy road trips and end‑of‑year celebrations. While gasoline has touched its annual low, diesel is still a touch higher when viewed across the year. Analysts warn that this easing could reverse in the coming weeks if tensions in the Middle East intensify, potentially pushing prices back up.
Looking back at recent history, the war in Ukraine and the sanctions imposed by the European Union on Russia caused a spike in fuel costs, with oil and its derivatives facing significant price increases. In June 2022 petrol peaked around 2,120 euros per 95 litres, and diesel rose to about 2,039 euros. The Gaza situation, by contrast, has not driven prices higher in the same way; OPEC has implemented supply cuts, yet the price trend has moved downward for four consecutive months, suggesting the market is currently more favorable for consumers than it was at the height of the conflict.
In regional terms, diesel prices rose to a local annual maximum of 1,673 euros in Alicante in September, but have since fallen to about 1,499 euros. This translates to roughly a 10‑euro saving for a typical 55‑litre tank. Gasoline 95 shows similar relief, moving from around 1,760 euros in September to approximately 1,542 euros today, a saving near 12 euros per fill. The current pattern marks gasoline as the cheaper option for the year, while diesel had registered a high earlier in May.
Industry observers note that the decline benefits road travel, especially during the Christmas travel window. Emilio Córcoles, provincial president of the Federation of Mediterranean Service Stations (Fedmes), remarked that lower prices can encourage more people to hit the road, countering the belief that high prices necessarily deter usage. He emphasizes that the business model relies on a high sales volume to stay profitable, and margins per liter remain very narrow, making price movements important for overall activity in the sector.
The industry also points out that this year has been comparatively peaceful for fuel markets, with fewer dramatic swings than seen in the past. This stability followed earlier disruptions, including a period when stations operated under strict conditions and subsidies were in place to cushion consumers. With the seasonal demand up and supply dynamics generally favorable, the current downward trend is expected to support more travel during the holiday period.
Looking ahead, Fedmes notes that global economic conditions and policy decisions, including OPEC production cuts, will influence price evolution. There is cautious concern that ongoing tensions in the Gaza situation could reverse the downward trajectory if supply concerns intensify again. Still, the current data suggests a sustained period of relief for motorists across the region as families prepare for the Christmas season.